Towpath Technology Correlations

TOWTX Fund

USD 14.80 0.05 0.34%

The current 90-days correlation between Towpath Technology and Prudential High Yield is 0.23 (i.e., Modest diversification). The correlation of Towpath Technology is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Towpath Technology Correlation With Market

Poor diversification

The correlation between Towpath Technology and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Towpath Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Towpath Technology. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Towpath Mutual Fund

0.61	TOWFX	Towpath Focus	Pair Corr
0.7	FSELX	Fidelity Select Semi	Pair Corr
0.71	FSPTX	Technology Portfolio	Pair Corr
0.75	SLMCX	Columbia Seligman	Pair Corr
0.82	SCICX	Columbia Seligman	Pair Corr
0.73	CCIFX	Columbia Seligman	Pair Corr
0.78	PRSCX	T Rowe Price	Pair Corr
0.65	FSCSX	Software And It	Pair Corr
0.84	WFIVX	Wilshire 5000 Index	Pair Corr
0.71	UMPIX	Ultramid Cap Profund Steady Growth	Pair Corr
0.69	VTRIX	Vanguard International	Pair Corr
0.74	TRSSX	T Rowe Price	Pair Corr
0.72	SPWAX	American Beacon Stephens	Pair Corr
0.73	JRLZX	Retirement Living Through	Pair Corr
0.77	ARZMX	Amg River Road	Pair Corr
0.77	FEFAX	First Eagle Fund	Pair Corr
0.66	MGDNX	Mainstay Moderate Growth	Pair Corr
0.73	HROAX	Hedgerow Income And	Pair Corr
0.73	VHCAX	Vanguard Capital Opp	Pair Corr
0.75	MXAGX	Great West Lifetime	Pair Corr
0.85	QAACX	Federated Mdt All	Pair Corr

Moving against Towpath Mutual Fund

0.78	TCTGX	Transamerica Cleartrack	Pair Corr
0.78	TCTJX	Transamerica Cleartrack	Pair Corr
0.77	USPSX	Profunds Ultrashort	Pair Corr
0.77	TDKTX	Cleartrack 2015 Class	Pair Corr
0.76	USPIX	Profunds Ultrashort	Pair Corr
0.71	TCSUX	Cleartrack 2020 Class	Pair Corr
0.46	CESGX	Coho Relative Value	Pair Corr
0.75	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	FHYIX	AHYMX	LHYOX	NMHYX	FAGIX	PHYZX
FHYIX		0.78	0.81	0.82	0.79	0.8	FHYIX
AHYMX	0.78		0.89	0.89	0.84	0.91	AHYMX
LHYOX	0.81	0.89		0.97	0.96	0.96	LHYOX
NMHYX	0.82	0.89	0.97		0.97	0.95	NMHYX
FAGIX	0.79	0.84	0.96	0.97		0.94	FAGIX
PHYZX	0.8	0.91	0.96	0.95	0.94		PHYZX
	FHYIX	AHYMX	LHYOX	NMHYX	FAGIX	PHYZX

Risk-Adjusted Indicators

There is a big difference between Towpath Mutual Fund performing well and Towpath Technology Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Towpath Technology's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FHYIX	0.08	0.00	(0.37)	0.00	0.00	(0.14)	0.22	(0.22)	0.66
AHYMX	0.08	0.01	(0.42)	0.50	0.00	(0.14)	0.22	(0.11)	0.67
LHYOX	0.13	0.02	(0.29)	(5.87)	0.00	(0.22)	0.32	(0.16)	1.11
NMHYX	0.09	0.01	(0.40)	0.23	0.00	(0.14)	0.24	(0.12)	0.60
FAGIX	0.28	0.01	(0.12)	0.12	0.28	(0.32)	0.56	(0.63)	1.40
PHYZX	0.11	0.01	(0.26)	0.22	0.00	(0.26)	0.21	(0.21)	0.83

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